System and Method for Entity Resolution of a Data Element

2. The system of claim 1, wherein the seed set the entity comprises at least one of a size zero entity, a pre-populated set of one or more entities, a subset of one or more properties for the entity or a combination thereof.

3. The system of claim 1, wherein the one or more entity references comprises at least one of a text source, a database, an audio source, an image source or a combination thereof.

4. The system of claim 3, wherein the entity comprises one or more properties with one or more corresponding property values.

5. The system of claim 1, wherein the one or more standardization operations comprises at least one of a letter or number or date formatting operation, local sensitive hashing operation, phonetic standardization operation, bucket standardization operation or a combination thereof.

6. The system of claim 5, wherein the letter or number or data formatting operation comprises a standard character operation performed on a string for standardization of the corresponding one or more property values.

7. The system of claim 5, wherein the local sensitive hashing operation is performed for identification of sensitivity and similarity between one or more similar input words of the one or more property values by using a hash function and a similarity calculation technique.

8. The system of claim 5, wherein the phonetic standardization operation is performed to determine one or more input words of the one or more property values having a resemblance in sound using one or more phonetic determination techniques.

10. The system of claim 1, wherein the one or more anonymization procedures comprises at least one of an encryption technique or a hashing technique for securing the one or more property values.

11. The system of claim 1, wherein the maximum likelihood estimation technique comprises addition of at least one additional property to the entity based on estimation of a most likely property value upon calculation of probability of a corresponding property value.

12. The system of claim 1, wherein the second entity resolution process comprises at least one of a first order statistical approach for uniqueness of the one or more property values of the one or more entity references to the one or more entities, a higher order statistical approach for uniqueness of the one or more property values of the one or more entity references to the one or more entities, a correlation approach in entity reference embeddings to co-reference the one or more entities, a weighted bipartite graph connecting the one or more entity references to the one or more entities, a convolutional neural network for prediction of the one or more entities, a social network analysis or a combination thereof.

13. The system of claim 1, wherein the entity creation and updating subsystem is configured to modify the corresponding seed set of the entity or the one or more entity references by creating at least one additional entity, augmenting at least one existing entity by adding at least one additional property and at least one additional property value, adding at least one additional entity reference for entity resolution or a combination thereof.

14. The system of claim 1, wherein the one or more entity references and corresponding one or more seed set of the entities are stored in corresponding storage repositories respectively.